New York Life Insurance Co. Buys Shares of 1,374,203 Netskope Inc. $NTSK

New York Life Insurance Co. purchased a new stake in shares of Netskope Inc. (NASDAQ:NTSK) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,374,203 shares of the company’s stock, valued at approximately $31,236,000. Netskope makes up about 7.7% of New York Life Insurance Co.’s investment portfolio, making the stock its 3rd biggest position. New York Life Insurance Co. owned approximately 0.36% of Netskope as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in Netskope during the 3rd quarter worth approximately $72,463,000. Federated Hermes Inc. acquired a new position in shares of Netskope during the third quarter worth $18,184,000. Chicago Capital LLC bought a new stake in shares of Netskope in the third quarter worth $2,056,000. Principal Financial Group Inc. acquired a new stake in Netskope in the third quarter valued at $27,239,000. Finally, New York State Common Retirement Fund bought a new position in Netskope during the 3rd quarter worth $943,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on NTSK. UBS Group set a $27.00 price target on Netskope in a research note on Monday, October 13th. Morgan Stanley began coverage on shares of Netskope in a research report on Monday, October 13th. They set an “overweight” rating and a $27.00 target price for the company. Citizens Jmp assumed coverage on shares of Netskope in a research report on Monday, October 13th. They issued a “mkt outperform” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Netskope in a research report on Monday, October 13th. They set an “overweight” rating and a $26.00 price objective for the company. Finally, Citigroup started coverage on shares of Netskope in a report on Monday, October 13th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.71.

Insider Transactions at Netskope

In related news, CFO Matto Andrew H. Del sold 77,207 shares of Netskope stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the sale, the chief financial officer owned 41,493 shares of the company’s stock, valued at approximately $702,061.56. This trade represents a 65.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Beri sold 346,061 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.91, for a total transaction of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,049,721 shares of company stock valued at $18,020,279 over the last ninety days.

Netskope Trading Down 5.1%

Shares of NASDAQ NTSK opened at $14.10 on Tuesday. The firm has a market capitalization of $5.54 billion and a price-to-earnings ratio of -141.00. The firm’s 50-day moving average is $17.75. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. Netskope Inc. has a 1-year low of $13.92 and a 1-year high of $27.99.

Netskope (NASDAQ:NTSK) last issued its earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The firm had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis.

Netskope Company Profile

We are redefining security and networking for the era of cloud and AI. The cloud and AI have completely revolutionized work. We are more dispersed, more productive, and more automated than ever before, and the rate of change is only accelerating. Not since the internet has there been such a transformative tectonic shift. But, with it has come collateral damage-traditional security and networking are now broken. We founded Netskope to address this revolution. We built Netskope One, our unified, cloud-native platform from the ground up to solve the challenge of securing and accelerating the digital interactions of enterprises in this new era.